Alleged N164m Fraud: EFCC Insists On Charges Of Diversion Of Funds Against Lagos Bizman


The Economic and Financial Crimes Commission (EFCC) has insisted that a Lagos businessman, Fidelis Umukoro, facing trial in an alleged N164 million fraud, diverted funds from A&P Foods Limited to other companies without being lawfully authorised to do so.

Counsel to the EFCC, T.J Banjo, on Monday, May 16, 2022, told Justice Mojisola Dada of a Special Offences Court, sitting in Ikeja, Lagos, that Umukoro allegedly diverted the funds when he was the authorised signatory to the account of A&P Foods Limited.

While being cross-examined, the prosecution alleged that the defendant diverted the funds to Raremax Global Investments Limited, where he was a former Managing Director, and to other companies in which he had an interest.

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